Patanjali Ayurved sells food biz to Ruchi Soya

PTI

New Delhi, May 18

Ramdev-led Patanjali will sell its food retail business to group firm Ruchi Soya Industries for Rs 690 crore as part of its strategy to focus on non-food, traditional medicine and wellness business.

The transaction shall consist of the transfer of employees, assets (excluding Patanjali’s brand, trademarks, designs and copyrights), current assets (excluding debtors, vehicles, cash and bank balance) contracts, licenses and permits, distribution network, customers related to the food retail business of Patanjali Ayurved.

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